Liquidation of Tire Company Ordered

A Tel Aviv district court has ordered the liquidation of the strike-plagued Alliance Tire Co. in Hadera.

The official receiver, Amram Blum, was given until next Sunday to carry out the order.

But he has asked for an extension, saying he may be able to avoid liquidation and save hundreds of jobs if given more time and the cooperation of the employees.

Alliance is one of some 300 factories and enterprises controlled by Koor Industries, the giant holding company owned by the Histadrut labor federation. Koor put it in the hands of the receiver last week, following months of labor strife, layoffs and lack of orders.

Koor Industries itself just reported a record quarter billion dollar loss for last year and is a billion dollars in debt to the banks.